Legal & General Group Plc Sells 151,344 Shares of Coca-Cola Europacific Partners $CCEP

Legal & General Group Plc trimmed its stake in Coca-Cola Europacific Partners (NASDAQ:CCEP) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,363,587 shares of the company’s stock after selling 151,344 shares during the period. Legal & General Group Plc owned about 0.73% of Coca-Cola Europacific Partners worth $307,732,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CCEP. Truist Financial Corp increased its holdings in Coca-Cola Europacific Partners by 10,480.7% in the third quarter. Truist Financial Corp now owns 4,756,043 shares of the company’s stock valued at $429,994,000 after purchasing an additional 4,711,093 shares during the period. Invesco Ltd. increased its holdings in Coca-Cola Europacific Partners by 31.6% in the third quarter. Invesco Ltd. now owns 15,610,379 shares of the company’s stock valued at $1,411,334,000 after purchasing an additional 3,751,430 shares during the period. Bessemer Group Inc. increased its holdings in Coca-Cola Europacific Partners by 12,873.0% in the third quarter. Bessemer Group Inc. now owns 2,537,646 shares of the company’s stock valued at $229,428,000 after purchasing an additional 2,518,085 shares during the period. Lazard Asset Management LLC increased its holdings in Coca-Cola Europacific Partners by 310.4% in the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company’s stock valued at $210,802,000 after purchasing an additional 1,762,299 shares during the period. Finally, Bank of America Corp DE increased its holdings in Coca-Cola Europacific Partners by 32.8% in the second quarter. Bank of America Corp DE now owns 2,870,553 shares of the company’s stock valued at $266,158,000 after purchasing an additional 709,723 shares during the period. 31.35% of the stock is currently owned by institutional investors and hedge funds.

Coca-Cola Europacific Partners Stock Down 0.8%

Shares of Coca-Cola Europacific Partners stock opened at $93.41 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.60 and a debt-to-equity ratio of 1.23. The business has a 50-day moving average price of $94.49 and a two-hundred day moving average price of $94.23. Coca-Cola Europacific Partners has a 1-year low of $84.65 and a 1-year high of $110.90.

Coca-Cola Europacific Partners Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th will be issued a dividend of $0.82 per share. This represents a yield of 213.0%. The ex-dividend date is Friday, May 15th.

Wall Street Analyst Weigh In

CCEP has been the subject of a number of recent research reports. Citigroup restated a “buy” rating on shares of Coca-Cola Europacific Partners in a report on Thursday, February 19th. Evercore restated an “outperform” rating and issued a $112.00 price objective on shares of Coca-Cola Europacific Partners in a report on Wednesday, February 18th. UBS Group increased their price objective on Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Weiss Ratings downgraded Coca-Cola Europacific Partners from a “buy (b+)” rating to a “buy (b)” rating in a report on Monday, May 18th. Finally, The Goldman Sachs Group increased their price objective on Coca-Cola Europacific Partners from $98.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, February 18th. Seven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $106.00.

Coca-Cola Europacific Partners Profile

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.